Get the latest insights on price movement and trend analysis of Cassava in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Cassava Price Trend for the H2 of 2022
The cassava prices displayed diverse trends throughout the Asia-Pacific region. In India, cassava prices increased averaging 40 INR/kg. The cassava prices did not increase for the past two years, hence many producers stopped production and shifted to other products for larger profits. However, this year the demand rebounded in the domestic market causing the prices to inflate as the inventories ran dry. In Cambodia, the cassava prices averaged 370-420 rivels/kg (0.096 USD/kg).
The cassava price averaged 30,000 Naira/MT ( or 67.80 USD/MT ) in Nigeria during the third quarter period. Owing to the high input costs, the market supply of cassava declined. Since cassava is a household staple in Africa, shortages amid solid demand caused the prices to incline.
The price trends for cassava kept steadily rising in the Brazilian market throughout the said period. The prices went from 167.84 USD/MT in July to 227.72 USD/MT ( Spot FD Brazil) ( approx.) in December 2022. The inclined prices were the result of high demand and lowered supply owing to harvest losses caused by unfavourable weather conditions.
According to Procurement Resource, the prices of cassava are expected to remain high owing to volatilities in the market. The poor yields due to intermittent rainfall and farmers switching to other crops for better profits together reinforced these high prices along with potent demand.
For the Second Quarter of 2022
Thailand, Cambodia, and Vietnam are the key exporters of the tuber in the Asian region. Chinese cassava imports account for around 36.5% of the global imports. However, in the current quarter, the price trend of the tuber dipped due to various reasons.
Firstly, many farmers in Thailand switched to planting rice due to better pricing and the demand from the Chinese market declined. To prevent the stockpiling of corn in the domestic market, the Chinese government directed the manufacturers to use corn instead of cassava in feed production. The price of Thai cassava averaged 2.1-2.2 THB/kg in the market.
Cassava forms an essential part of the diet in Brazilian households. Brazilian cassava prices averaged 1.43-1.17 USD/kg or around 1430 USD/ton.
Middle East and Africa
The price trend of the tuber remained firm in the African market. Despite being the largest producer, African exports are limited as most of the product is consumed domestically. Domestic productions help achieve food security and provide recurring income to the farmers.
For the First Quarter of 2022
As the global demand for cassava increases, Thailand’s cassava market is projected to prosper amid rise in cereal prices. In March 2022, the price of fresh cassava root was around 2.5-2.6 THB/kg. The cassava prices are projected to increase with an increase in demand. The global cassava root production is expected to increase to 302 MMT. Thailand has an estimated domestic demand of 12.7 MMT for cassava root while exports are estimated at 29.7 MMT.
Cassava root prices were in the range of 153-163 USD/MT in Brazil in the final week of March.
For the Fourth Quarter of 2021
In the fourth quarter of this year, Thailand's Industry and Trade Information Center raised the value floor of cassava flour from 475 USD/MT to 480 USD/MT, resulting in a price increase from 0.41 USD/kg to 0.42 USD/kg. Other merchants, such as the Thai Yam and Tapioca Factories Association, increased the price of exported chips by 0.5 USD/kg at the same time. On the other hand, raw cassava prices remained steady at roughly 0.075-0.080 USD/kg.
In December 2021, tuber prices in the United Kingdom were projected to be between 1220 USD/MT and 1290 USD/MT. Cassava starch was frequently used in the textile industry for finishing, sizing, and printing because of its flexibility, abrasion resistance, and ability to create a link with the fibre.
In the fourth quarter of 2021, the tuber market price in Brazil gradually increased, reaching 124 USD/MT in December, from 102 USD/MT in October. After a period of low productivity, cassava prices increased as demand grew.
For First, Second and Third Qaurters of 2021
The tuber’s business grew as a result of urbanisation, increased working population, and rising family incomes, while the global food sector expanded significantly, particularly in emerging economies like India and China. This aided the growth of the industry by raising demand for ready-to-eat foods.
For the first three quarters of 2021, the average Brazilian market prices of the tuber were in the range of 78-102 USD/MT. Since the tuber is a well-established product in South American countries, consumption patterns and total market demand were steady. Latin America's population growth, as well as expanding food industry demand, were the key drivers of the market in 2021.
For the Year 2020
In 2020, the cassava market price in Vietnam was roughly 94 to 98 USD/MT, while the price range in Indonesia was 68 to 72 USD/MT. Thailand ranked fifth in exports in 2020, with a 6.32 percent global share, a value of USD 5.77 million, and a volume of 4.84 MT. It was ranked 19th in 2020 imports, with a 0.46 percent share valued at USD 578.19 thousand and a volume of 92.96 thousand MT.
Average manioc import prices in the United Kingdom were 1170 USD/MT in the start of 2020. Manufacturers were attempting to develop and invent clean-label meals and food ingredients, which increased demand for wheat as a natural product in the worldwide food and beverage industries. Technological developments, industrial expansion, and increased population growth fueled global demand for flour.
Manioc starch prices in the United States were 668 USD/MT in January, 640 USD/MT in February, and 692 USD/MT in March of 2020. The global cassava flour market expanded as a result of rising consumer desire for a healthy lifestyle, which led to increased consumption of healthy food products and food ingredients. Furthermore, market expansion was fueled by increased demand for packaging innovation, convenience meals, and an expanding population willing to pay a premium for healthy food.
Cassava prices in Brazil fell from 114 USD/MT in January to 82 USD/MT in February, and then to 76 USD/MT in March of 2020. While prices rose to 100 USD/MT in October, they fell down to 87 USD/MT in November and stayed rangebound until the end of the year. Government-imposed lockdowns and transportation restrictions hampered various food industries, causing the market to suffer from a drop in demand and consumption.
Procurement Resource provides latest prices of Cassava. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Cassava is a woody shrub which is native to South America and belongs to the spurge family, Euphorbiaceae. Although a perennial plant, Cassava is widely cultivated as an annual crop in tropical and subtropical regions owing to its edible starchy tuberous root, which is one of the richest sources of energy (carbohydrates).
Cassava is mostly consumed in boiled form; however, its substantial quantities are utilised to extract cassava starch. Its starchy roots can also be processed into cassava chips, cassava flour, and cassava pellets. Further, it is the third most significant crop of the tropical region after rice and maize.
|Synonyms||Manihot esculenta, Manioc, Yuca, Macaxeira, Mandioca, kappa kizhangu|
|Industrial Uses||Alcoholic Beverages, Culinary, Animal Feed, Biofuel, Glues and adhesives, Paper and cardboard, Textiles, Pharmaceutical|
|Supplier Database||Dadtco Philafrica B.V, Avebe U.A, Tereos, Cargill, Incorporated, Ingredion Incorporated, Emsland Group, Alvan Blanch Development Company Limited|
|Region/Countries Covered||Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|Currency||US$ (Data can also be provided in local currency)|
|Supplier Database Availability||Yes|
|Customization Scope||The report can be customized as per the requirements of the customer|
|Post-Sale Analyst Support||360-degree analyst support after report delivery|
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Being one of the most drought-tolerant crops, Cassava is capable of growing on marginal soils. After the cultivation and maturing of Cassava, it is harvested by hand. The upper parts of the stems containing leaves are plucked off before harvest. The method involves the raising of the stem’s lower part and pulling the roots out of the ground. These roots are then separated from the base of the plant to obtain Cassava roots
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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